As an accountant to video and set designers, we are more than familiar with the complexities of tax and accounting for the industry. There are a number of responsibilities you commit to when you become a freelance/self-employed video or set designer, such as filing a tax return declaring your income, keeping detailed records of your work expenses and paying tax on certain income.

Qualifying expenses include:

· Travel and Lodge

· Office

· Equipment

· Subscriptions

…and much more. Be warned that it is likely that the HMRC will not share the same opinion as you when it comes to what is an appropriate expense to claim. For this reason, we recommend you seek tax advice from an expert that specialises in your field.

Creative Industry Tax Relief

There are a number of tax reliefs you are entitled to as a freelancer/self-employed worker in the creative industry.

For instance, Video Games Tax Relief.

WHO IS ELIGIBLE?

· Video games that are certified as culturally British

· Video games that are intended for supply

· Video Games with at least 25% of production costs are incurred in the EEA

THERE IS NO RELIEF FOR A PROGRAMME THAT IS:

No relief for games that are produced for:

· Advertising

· Promotion

· Gambling

ENHANCEABLE EXPENDITURE

The lesser of

· EEA qualifying expenditure

80% of total qualifying expenditure

MAXIMUM CLAIMABLE

Qualifying companies can claim either an additional tax deduction if 100% of enhanceable expenditure or; if a loss is surrendered: 25% of the loss up to the amount of enhanceable expenditure

Contact us for expert advice about accounting for video or set designers

A big thank you to our amazing client Andrzej Goulding for contributing his video and set design work.